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GUC — Interim / Quarterly Report 2021
Sep 6, 2021
52327_rns_2021-09-06_31e4cfb9-f924-40b4-80d3-45514fe6f850.pdf
Interim / Quarterly Report
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Global Unichip Corp.
GUC Proprietary & Confidential Security C
• 2Q21 Financial Results
• Business Update
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GUC’s statements of its current expectations are forward-looking statements subject to significant risks and uncertainties and actual results may differ materially from those contained in the forward-looking statements.
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Except as required by law, we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.
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2Q21 Financial Results
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| (Unit: NT$M) | 2Q21 QoQ |
1Q21 | 2Q20 | YoY | |
|---|---|---|---|---|---|
| Revenues NRE Turn Key Others Gross Margin % |
3,301 0% 1,137 -8% 2,130 5% 34 -23% 1,051 -8.0% 31.8% |
3,312 1,234 2,034 44 1,143 34.5% |
2,927 516 2,168 243 773 26.4% |
13% 120% -2% -86% 36% |
|
| SG&A Exp | (157) 12% (661) 2% |
(140) (649) |
(128) (585) |
23% | |
| R&D Exp | 13% | ||||
| Operating Income | 233 -34% |
354 | 60 | 288% | |
| % | 7.1% | 10.7% | 2.0% | ||
| Non-Operating Items | 42 | 14 | (5) | ||
| Income Tax Net Income % |
(55) 220 -29% 6.7% |
(60) 308 9.3% |
(18) 37 1.3% |
495% | |
| EPS (NT$) | 1.64 | 2.30 | 0.27 |
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YoY
+13%
QoQ
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+13%
QoQ
-0.3%
YoY
+5.4ppt
QoQ
-2.7ppt
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YoY
NRE:120%
QoQ
Turnkey:-2%
Others:-86% NRE:-8%
Turnkey:5%
Others:-23%
Unit:NTM
2Q20 3Q20 4Q20 1Q21 2Q21
NRE 516 1,375 1,946 1,234 1,137
Turnkey 2,168 2,087 1,893 2,034 2,130
Others 243 66 105 44 34
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| Unit:NTM | 60 126 704 354 233 128 139 207 140 157 585 610 747 649 661 R&D SG&A OPM QoQ R&D:+2% SG&A:+12% OPM:-34% YoY R&D:+13% SG&A:+23% OPM:+288% 2Q20 3Q20 4Q20 1Q21 2Q21 20.0% 17.3% 18.9% 19.6% 20.0% 4.4% 3.9% 5.2% 4.2% 4.8% 24.4% 21.2% 24.2% 23.8% 24.8% 2.0% 3.6% 17.8% 10.7% 7.1% |
60 126 704 354 233 128 139 207 140 157 585 610 747 649 661 R&D SG&A OPM QoQ R&D:+2% SG&A:+12% OPM:-34% YoY R&D:+13% SG&A:+23% OPM:+288% 2Q20 3Q20 4Q20 1Q21 2Q21 20.0% 17.3% 18.9% 19.6% 20.0% 4.4% 3.9% 5.2% 4.2% 4.8% 24.4% 21.2% 24.2% 23.8% 24.8% 2.0% 3.6% 17.8% 10.7% 7.1% |
60 126 704 354 233 128 139 207 140 157 585 610 747 649 661 R&D SG&A OPM QoQ R&D:+2% SG&A:+12% OPM:-34% YoY R&D:+13% SG&A:+23% OPM:+288% 2Q20 3Q20 4Q20 1Q21 2Q21 20.0% 17.3% 18.9% 19.6% 20.0% 4.4% 3.9% 5.2% 4.2% 4.8% 24.4% 21.2% 24.2% 23.8% 24.8% 2.0% 3.6% 17.8% 10.7% 7.1% |
60 126 704 354 233 128 139 207 140 157 585 610 747 649 661 R&D SG&A OPM QoQ R&D:+2% SG&A:+12% OPM:-34% YoY R&D:+13% SG&A:+23% OPM:+288% 2Q20 3Q20 4Q20 1Q21 2Q21 20.0% 17.3% 18.9% 19.6% 20.0% 4.4% 3.9% 5.2% 4.2% 4.8% 24.4% 21.2% 24.2% 23.8% 24.8% 2.0% 3.6% 17.8% 10.7% 7.1% |
60 126 704 354 233 128 139 207 140 157 585 610 747 649 661 R&D SG&A OPM QoQ R&D:+2% SG&A:+12% OPM:-34% YoY R&D:+13% SG&A:+23% OPM:+288% 2Q20 3Q20 4Q20 1Q21 2Q21 20.0% 17.3% 18.9% 19.6% 20.0% 4.4% 3.9% 5.2% 4.2% 4.8% 24.4% 21.2% 24.2% 23.8% 24.8% 2.0% 3.6% 17.8% 10.7% 7.1% |
|---|---|---|---|---|---|
| % of Sales | 2Q21 | ||||
| 2Q20 | 3Q20 | 4Q20 | 1Q21 | ||
| R&D | 20.0% | 17.3% | 18.9% | 19.6% | 20.0% |
| SG&A | 4.4% | 3.9% | 5.2% | 4.2% | 4.8% |
| OPEX | 24.4% | 21.2% | 24.2% | 23.8% | 24.8% |
| OPM | 2.0% | 3.6% | 17.8% | 10.7% | 7.1% |
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YoY
+5.4ppt
QoQ
-2.6ppt
YoY
+495% QoQ
-29%
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| (Unit: NT$M) Amount % Revenues 13,460 11% NRE 4,079 30% Turn Key 9,168 68% Others 213 2% Gross Margin 4,017 29.8% SG&A Exp (647) -4.8% R&D Exp (2,274) -16.9% Operating Income 1,096 8.1% Non-Operating Items 39 0.3% Income Tax (147) -1.1% Net Income 988 7.3% EPS (NT$) 7.37 2018* |
Amount % 10,710 -20% 3,206 30% 7,189 67% 315 3% 3,530 33.0% (613) -5.7% (2,220) -20.8% 697 6.5% 86 0.8% (150) -1.4% 633 5.9% 4.73 2019* |
Amount % 13,569 27% 4,614 34% 8,525 63% 430 3% 4,071 30.0% (603) -4.4% (2,504) -18.5% 964 7.1% 38 0.3% (152) -1.1% 850 6.3% 6.34 2020* |
Amount % 6,613 8% 2,371 36% 4,164 63% 78 1% 2,194 33.2% (297) -4.5% (1,310) -19.8% 587 8.9% 56 0.8% (115) -1.7% 528 8.0% 3.94 1H 2021* |
Amount % 6,097 1,293 21% 4,545 75% 259 4% 1,538 25.2% (257) -4.2% (1,147) -18.8% 134 2.2% 51 0.8% (49) -0.8% 136 2.2% 1.01 1H 2020 |
YoY |
|---|---|---|---|---|---|
| Amount | Amount | Amount | Amount | ||
| 10,710 3,206 7,189 315 |
13,569 4,614 8,525 430 |
6,613 2,371 4,164 78 |
6,097 1,293 4,545 259 |
8% 83% -8% -70% |
|
| 3,530 (613) (2,220) |
4,071 (603) (2,504) |
2,194 (297) (1,310) |
1,538 (257) (1,147) |
43% 16% 14% |
|
| 697 86 (150) |
964 38 (152) |
587 56 (115) |
134 51 (49) |
338% 10% 135% |
|
| 633 | 850 | 528 | 136 | 288% | |
| 4.73 | 6.34 | 3.94 | 1.01 | ||
* YoY revenue growth rate
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Business Update
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40nm & Above 28nm 16nm 7nm & Below
100%
10% 12% 7%
18% 15%
13%
80%
30%
21% 25%
40%
60% 33%
20% 18% 20%
40% 17%
20% 44% 41% 42% 43%
31%
0%
2Q20 3Q20 4Q20 1Q21 2Q21
Sales(NT$M) $2,927 $3,528 $3,944 $3,312 $3,301
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40nm & Above 28nm 16nm 7nm & Below
1%
4%
100%
11%
19% 11%
25%
16%
80%
22%
12% 28%
60% 28% 37%
26%
27%
19%
40%
20% 46% 43% 43% 40% 42%
0%
2017 2018 2019 2020 1H21
Sales(NT$M) $12,161 $13,460 $10,710 $13,569 $6,613
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Annual NRE Breakdown by Technology
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40nm & Above 28nm 16nm 7nm & Below
100% 4%
8%
18%
26%
19% 31%
80%
42%
37%
60%
42%
50%
44%
40%
32%
31%
20% 20%
16%
27%
18%
14% 12%
9%
0%
2017 2018 2019 2020 1H21
Sales(NT$M) $2,642 $4,079 $3,206 $4,614 $2,371
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Annual Turnkey Breakdown by Technology
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40nm & above 28nm 16nm 7nm & Below
100%
3%
3% 12%
19% 18%
28%
80% 1%
38% 31%
21%
23%
60% 20%
40%
61%
57% 56% 57%
52%
20%
0%
2017 2018 2019 2020 1H21
Sales(NT$M) $9,266 $9,168 $7,189 $8,525 $4,164
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Taiwan USA China Japan Korea Europe
100%
6% 3%
11% 10% 10%
8% 14%
9%
13% 15%
80%
8% 13%
27% 12% 6%
60%
15% 23%
33% 28%
17%
40%
35% 26% 19%
21%
21%
20%
23%
18% 21% 20%
15%
0%
2017 2018 2019 2020 1H21
Sales(NT$M) $12,161 $13,460 $10,710 $13,569 $6,613
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AI/ML Networking Digital Consumer Industry Others
100%
7% 6%
10%
25% 14%
15%
30% 12%
80%
11%
14%
60%
47% 44%
51%
48%
40% 35%
20% 22% 26%
19%
16%
11%
11%
8% 8%
5%
0% 5%
2017 2018 2019 2020 1H21
Sales(NT$M) $12,161 $13,460 $10,710 $13,569 $6,613
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System House Fabless
100%
28%
33% 33% 32%
80% 38%
60%
40%
72%
67% 67% 68%
62%
20%
0%
2017 2018 2019 2020 1H21
Sales(NT$M) $12,161 $13,460 $10,710 $13,569 $6,613
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Thank you !
http://www.guc-asic.com
[email protected]
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